BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $49.00

BridgeBio Pharma (NASDAQ:BBIO) had its price target lifted by Citigroup from $45.00 to $49.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on the stock. Bank of America increased their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday. Scotiabank increased their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday. Finally, Evercore ISI increased their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $51.67.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $36.85 on Friday. The firm’s fifty day moving average price is $31.90 and its 200 day moving average price is $27.98. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of -12.93 and a beta of 1.07. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million. As a group, sell-side analysts forecast that BridgeBio Pharma will post -3.66 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 68,000 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the transaction, the chief financial officer now owns 93,758 shares in the company, valued at $3,402,477.82. This trade represents a 42.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Kumar sold 31,543 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the completion of the transaction, the chief executive officer now owns 211,718 shares of the company’s stock, valued at $7,651,488.52. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,496,239 shares of company stock worth $122,612,036. Company insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently made changes to their positions in the stock. Ironwood Investment Management LLC increased its holdings in shares of BridgeBio Pharma by 0.5% in the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock valued at $1,733,000 after purchasing an additional 338 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of BridgeBio Pharma by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock valued at $404,000 after purchasing an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares in the last quarter. Mackenzie Financial Corp increased its holdings in BridgeBio Pharma by 6.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock valued at $261,000 after acquiring an additional 592 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after acquiring an additional 801 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.